Abattoir cash for mall

Press, 18 July 1980, Page 4

Abattoir cash for mall

The proposed ; Cashel Street-High Street mall will be ! financed from the $2.4 million sale of the city abattpir. - ' ■ At a meeting of the Christchurch City Council's policy apd? finance committee this week, councillors considered a- number of options to get the best value from its sale of the abattoir. They recommended that $2.2 million be allocated to loan-raising and $lBO,OOO for the mill. The commitfee was told that savings would include loan-se r v i c i hg costs of $350,000 annually and meant that proposed works would riot he held’up through lack Of finance. ■ ’ . The., remaining funds would be applied t® several

council .projects that in? eluded the neW civic offices, central works depot,’ and the library. . An earlier proposal waa to use the funds to ease loan requirements on the Tuam street civic offices, Cr Vicki Buck said that it would, seem appropriate for the funds from the sale of one asset to be used in the development of another asset.

Unemployment problems in Christchurch were likely to, worsen, and the money should be used to help develop the Council’s Bexley employment zone, she said. The committee rejected her amendment calling for deferment of the matter to include the Bexley zone in the alternatives.